What are you paying for a gallon of Premium?

Cmike2780 · 02-28-2011, 02:23 PM

Quote:

Originally Posted by chops

you under 4 dollar people suck. i filled up at 4.19 yesterday!!

We will all be at $4 soon enough....although you'll probably be at $5 when that happens

Funny enough, my relatives in Sweden and Norway wouldn't mind paying $4/gal. Maybe the high prices can be a good thing in the long run. I just feel bad for people who can't afford the extra increase, but have no choice but to pay up. I just don't understand how speculation dictates prices instead of supply and demand. I alot of "smart" people in Wall Street are making a fortune on this as we speak, and we aren't producing any less fuel than normal.

GZ3 · 02-28-2011, 02:24 PM

3.58...

spinhead · 02-28-2011, 02:34 PM

Quote:

Originally Posted by Cmike2780

I alot of "smart" people in Wall Street are making a fortune on this as we speak, and we aren't producing any less fuel than normal.

Libyan Oil Output Falls by Half

Speculation isn't some mythical beast... prices were where they were with no ripples in the supply. Now there are ripples, prices go up.

TongMan · 02-28-2011, 02:36 PM

4.00 a gallon here in Sac, CA

Cmike2780 · 02-28-2011, 04:34 PM

Quote:

Originally Posted by spinhead

Libyan Oil Output Falls by Half

Speculation isn't some mythical beast... prices were where they were with no ripples in the supply. Now there are ripples, prices go up.

Yes, but the ripples don't justify the percentage increase we've seen in the past couple of weeks. A ripple shouldn't amount to a tsunami. I know oil demand is global, but when you think about it, a small percentage of crude oil from Lybia actually makes it to the US market. We rely heavily on Canada (18%) & Saudi Arabia (11%).

Speculation is very real because the supply hasn't really impacted the global market just yet. Maybe this week, this month or next year, but certainly not two weeks ago. Because the likelyhood is very realistic, the price has increased ahead of the actual demand. The speculators assume that from this point, those who rely on Lybia will go elsewhere thereby increasing demand from other countries who's oil supply is already alocated for. My intent is not downplay the Lybian crisis, because it will affect us sooner or later. I'm just saying, we shouldn't have to pay more until the actual supply decreases. It's like trying to sell a 370z for a million dollars today because it could be worth 2 million a hundred years from now. Thats a bit exagerated, but you get my point?

Waiz · 02-28-2011, 05:36 PM

That's what the market is all about, anticipated future costs.

Regardless, $5 a gallon will be a reality IMO by the end of the year. Economic turnaround = higher oil demand = higher prices.

I own stock in both oil and solar so for me it's all good

SmoothZ · 02-28-2011, 08:19 PM

My car is in storage, so I paid way under $3 per gallon back in September.

I think it's now at $3.66 or so for premium in my 'hood.

rambunctious · 02-28-2011, 08:34 PM

As a son of a gas station owner let me break it down for you. Say your gas price is $4.00 for premium. We pay Shell $3.10. We pay City, State, & Oil Spill Recovery fee of ~ $.60. We lose $.02-.03 per dollar on credit card swipes so about $.12. We are netting about $.18 per gallon... So that should give you guys an idea of where your money is going..

SmoothZ · 02-28-2011, 08:38 PM

We already know that.

What makes me mad is that gas prices instantly rise because Libya farts or Iran cries and we pay the price the next day. It's ******* greed.

rambunctious · 02-28-2011, 08:51 PM

Shell doesn't control the SC process of its delivery, and these processes are betting on futures of the same gas prices you and I are paying... And Oil hates uncertainty, and when speculation settles in, prices skyrocket.. Im suprised the SPR hasnt put anything into effect. I just want to know at what point they will start unloading. The whole refining process is just as backwards as hybrids..

SmoothZ · 02-28-2011, 08:52 PM

Remind me again why humanity has decided that betting on futures is a smart thing.

Dreezy562 · 02-28-2011, 09:17 PM

4.09 last friday, tonight? 3.95

DrEvil · 03-01-2011, 07:48 AM

Quote:

Originally Posted by Ron

Is that for 91? That's cheap!

Sure is. Ran back and filled the wifes' car too.

Niche79 · 03-01-2011, 09:05 AM

Premium just went up .10 cents in 1 days!!!! I drove to work yesterday and it was up to 3.65 per gallon....so for us, thats 30 cents since last wed/thurs.

MRMONROE · 03-01-2011, 01:14 PM

Premium at the local Sam's Club gas station jumped overnight from $3.39 to $3.52 (Charlotte, NC). It's pretty much around $3.70 at other stations.

02-28-2011, 02:24 PM	#482 (permalink)
GZ3 A True Z Fanatic Join Date: Dec 2009 Location: SATX Posts: 3,296 Drives: Z Rep Power: 21	3.58... __________________ 09 GT-R 12' 370Z 7AT HANDED DOWN 12'+13' 5.0 SOLD

02-28-2011, 08:19 PM	#487 (permalink)
SmoothZ A True Z Fanatic Join Date: Nov 2009 Location: Arrakis Posts: 7,952 Drives: giant sandworm Rep Power: 35	My car is in storage, so I paid way under $3 per gallon back in September. I think it's now at $3.66 or so for premium in my 'hood. __________________ "Once you go Asian, you never go Caucasian." "I talk to myself, and when I do that, I know I'm talking to an intelligent person."

02-28-2011, 08:38 PM	#489 (permalink)
SmoothZ A True Z Fanatic Join Date: Nov 2009 Location: Arrakis Posts: 7,952 Drives: giant sandworm Rep Power: 35	We already know that. What makes me mad is that gas prices instantly rise because Libya farts or Iran cries and we pay the price the next day. It's ******* greed. __________________ "Once you go Asian, you never go Caucasian." "I talk to myself, and when I do that, I know I'm talking to an intelligent person."

02-28-2011, 08:52 PM	#491 (permalink)
SmoothZ A True Z Fanatic Join Date: Nov 2009 Location: Arrakis Posts: 7,952 Drives: giant sandworm Rep Power: 35	Remind me again why humanity has decided that betting on futures is a smart thing. __________________ "Once you go Asian, you never go Caucasian." "I talk to myself, and when I do that, I know I'm talking to an intelligent person."

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02-28-2011, 02:36 PM	#484 (permalink)
TongMan A True Z Fanatic Join Date: Feb 2010 Location: NorCal Posts: 1,297 Drives: 2013 Nissan GTR Rep Power: 715	4.00 a gallon here in Sac, CA

02-28-2011, 05:36 PM	#486 (permalink)
Waiz A True Z Fanatic Join Date: Apr 2010 Location: SoCal Posts: 9,262 Drives: Z33 & GE8 Rep Power: 459	That's what the market is all about, anticipated future costs. Regardless, $5 a gallon will be a reality IMO by the end of the year. Economic turnaround = higher oil demand = higher prices. I own stock in both oil and solar so for me it's all good

02-28-2011, 08:34 PM	#488 (permalink)
rambunctious Base Member Join Date: Feb 2011 Location: in the cowboys stadium Posts: 176 Drives: your mom crazy.. Rep Power: 14	As a son of a gas station owner let me break it down for you. Say your gas price is $4.00 for premium. We pay Shell $3.10. We pay City, State, & Oil Spill Recovery fee of ~ $.60. We lose $.02-.03 per dollar on credit card swipes so about $.12. We are netting about $.18 per gallon... So that should give you guys an idea of where your money is going..

02-28-2011, 08:51 PM	#490 (permalink)
rambunctious Base Member Join Date: Feb 2011 Location: in the cowboys stadium Posts: 176 Drives: your mom crazy.. Rep Power: 14	Shell doesn't control the SC process of its delivery, and these processes are betting on futures of the same gas prices you and I are paying... And Oil hates uncertainty, and when speculation settles in, prices skyrocket.. Im suprised the SPR hasnt put anything into effect. I just want to know at what point they will start unloading. The whole refining process is just as backwards as hybrids..

02-28-2011, 09:17 PM	#492 (permalink)
Dreezy562 Enthusiast Member Join Date: Oct 2010 Location: Long beach, ca Posts: 419 Drives: 40th Rep Power: 14	4.09 last friday, tonight? 3.95

03-01-2011, 09:05 AM	#494 (permalink)
Niche79 Track Member Join Date: Jan 2010 Location: Kissimmee, FL Posts: 900 Drives: '09 SR Tour/Sprt/Nav Rep Power: 36	Premium just went up .10 cents in 1 days!!!! I drove to work yesterday and it was up to 3.65 per gallon....so for us, thats 30 cents since last wed/thurs.

03-01-2011, 01:14 PM	#495 (permalink)
MRMONROE Base Member Join Date: Mar 2011 Location: Charlotte Age: 45 Posts: 14 Drives: '12 Z & '12 Maxima Rep Power: 14	Premium at the local Sam's Club gas station jumped overnight from $3.39 to $3.52 (Charlotte, NC). It's pretty much around $3.70 at other stations.